Quarterly report pursuant to Section 13 or 15(d)

STOCK INCENTIVE PLANS AND SHARE-BASED COMPENSATION

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STOCK INCENTIVE PLANS AND SHARE-BASED COMPENSATION
 3 Months Ended
Jun. 30, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
STOCK INCENTIVE PLANS AND SHARE-BASED COMPENSATION
STOCK INCENTIVE PLANS AND SHARE-BASED COMPENSATION
Share-Based Compensation
The following table summarizes share-based compensation (in thousands):
 
Three Months Ended
 
June 30, 2015
 
June 30, 2014
Share-based compensation:
 
 
 
Cost of revenue
$
362

 
$
414

Research and development
549

 
780

Sales and marketing
870

 
910

General and administrative
872

 
964

 
$
2,653

 
$
3,068

Share-based compensation by type of award:
 
 
 
Stock options
$
2

 
$
157

Restricted stock
2,430

 
2,698

Stock purchase plan
221

 
213

 
$
2,653

 
$
3,068


Stock Incentive Plans - Grants and Fair Value
Stock Options
No stock options were granted during the first quarter of fiscal 2016 or 2015. The Black-Scholes option pricing model is used to estimate the fair value of stock options.
Restricted Stock
The fair value of restricted stock units (“RSUs”) granted is the intrinsic value as of the respective grant date since the RSUs are granted at no cost to the employee. The weighted-average grant date fair values of RSUs granted during the first quarter of fiscal 2016 and 2015 were $1.97 and $1.21 per share, respectively.
Stock Purchase Plan
Under the Stock Purchase Plan, rights to purchase shares are typically granted during the second and fourth quarter of each fiscal year. No rights to purchase shares were granted in the first quarter of fiscal 2016 and fiscal 2015.
 
 
 
 
Stock Incentive Plans - Activity
Stock Options
A summary of activity relating to our stock options follows (options and aggregate intrinsic value in thousands):
Options
 
Weighted-
Average
Exercise Price
 
Weighted-
Average
Remaining
Contractual Term
 
Aggregate
Intrinsic Value
Outstanding as of March 31, 2015
4,944

 
$
1.47

 
 
 
 
Exercised
(252
)
 
1.05

 
 
 
 
Expired
(26
)
 
1.99

 
 
 
 
Outstanding as of June 30, 2015
4,666

 
$
1.49

 
1.50
 
$
2,144

Vested and expected to vest at June 30, 2015
4,666

 
$
1.49

 
1.50
 
$
2,144

Exercisable as of June 30, 2015
4,666

 
$
1.49

 
1.50
 
$
2,144



Restricted Stock
A summary of activity relating to our restricted stock follows (shares in thousands):
 
Shares
 
Weighted-Average
Grant Date
Fair Value Per Share
Nonvested at March 31, 2015
13,791

 
$
1.34

Granted
230

 
1.97

Vested
(289
)
 
1.41

Forfeited
(138
)
 
1.30

Nonvested at June 30, 2015
13,594

 
$
1.35